Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Miners
Dump $143 Million
In 6 Days – A
Sign Of Trouble?
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Miners Dump $143 Million In 6 Days – A Sign Of Trouble?
by Sebastian Villafuerte
3 mins ago
in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News
0
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is at a critical turning point after facing several days of selling
pressure and consolidating above the $60,000 mark. While some analysts and
investors are anticipating a massive rally in the coming months, key data
indicates that the market may not be ready for a breakout just yet.
Recent on-chain data from CryptoQuant reveals that miners are offloading BTC,
with their reserves showing a noticeable decline. This suggests that selling
pressure from miners could be contributing to the current slowdown.
Related Reading: Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) Historical Data Signals October Bull Run
Kickoff – Analyst
Despite the optimism for a future rally, the combination of recent price
action and on-chain indicators implies that Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s much-anticipated upward
surge may still take time to materialize. As the crypto market remains
uncertain, traders are watching closely for signs of whether the next move
will be a bullish breakout or if further consolidation is ahead.
For now, BTC is holding steady, but all eyes are on whether it can maintain
strength above $60,000 or if more selling pressure will emerge before the
anticipated rally begins.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin Miners Taking Profits
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s price action has faced downward pressure recently, driven by a
series of selling events that pushed it down from local highs. Key data from
CryptoQuant, shared by analyst Ali on X , highlights a significant trend
involving Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miners. According to the data, Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miner reserves have
decreased noticeably over the past few days. Miners sold a total of 2,364 BTC
in the last six days, equating to roughly $143 million.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin miner reserve falls as miners have sold 2,364 BTC in the past six
days. | Source: Ali on X
Miners sizable sell-off is a critical factor influencing
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s current price dynamics. The behavior of miners often provides
insight into broader market sentiment, and this recent selling spree suggests
that miners may be preparing for a deeper correction. It’s possible they are
taking profits after the recent rally or bracing for increased market
volatility. The timing of these sales could indicate caution among miners and
other big players in the market as they await Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s next major move.
Related Reading: Dogecoin Whales Back In Action – Metrics Reveal $108 Million
DOGE Accumulation
The latest price action, combined with these on-chain indicators, underscores
the uncertainty surrounding Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s short-term trajectory. Miners,
known as significant market participants, seem to be playing it safe, which
signals that the next few weeks could be pivotal for Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s price.
Investors are closely watching for further signs of consolidation or a
potential breakout as the crypto market navigates this volatile period.
BTC Price Analysis: Holding Above $60,000
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin is currently trading at $61,900, demonstrating strength as it holds
above the crucial 4-hour 200 exponential moving average (EMA) at $61,684.
Maintaining this level as support is vital for bullish momentum, as a
successful push towards $66,000 could confirm the upward trend and open the
door to new highs. BTC holding above the 4H 200 EMA. | Source: BTCUSDT chart
on TradingView
Analysts believe that if BTC can decisively break above this key resistance,
it would signal a robust recovery and attract further buying interest. This
could potentially drive the price to test even higher levels, reinforcing the
positive sentiment surrounding the cryptocurrency.
Conversely, if BTC fails to maintain its position above the 4-hour 200 EMA, it
could trigger a retracement to lower demand levels, with support anticipated
around $57,500. A move below this level would raise concerns about the
sustainability of the recent bullish action and might lead to increased
selling pressure.
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Improves: BTC Rally Incoming?
Traders are closely monitoring these price points, as they will determine
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s short-term direction. The next few trading sessions will be crucial
in establishing whether BTC can continue its bullish trajectory or face a
correction back to lower demand zones.
Featured image from Dall-E, chart from TradingView
